SEC Division of Enforcement Director Gurbir S. Grewal emphasized the importance of "proactive compliance" amid the "significant decline" in public trust in the financial markets and institutions.

An investment adviser settled charges with the SEC for inaccurately describing investments in periodic reports.

The FDIC proposed amendments to the Federal Deposit Insurance Act to allow certain individuals who have prior convictions to work for FDIC-insured financial institutions.

The OCC, the Federal Reserve Board and the FDIC adopted a new framework for the implementation of the Community Reinvestment Act.

The Securities and Exchange Commission (the "SEC") has received significant criticism for its rulemaking process, particularly for allowing inadequate time for public comment. This criticism has come from market participants (not surprisingly), from Congresspersons (both Democrats and Republicans)[1] and most frequently from Commissioner Uyeda and Commissioner Peirce. In increasingly blunt dissents, they have stated that the SEC rulemakings failed to provide sufficient opportunity for public comment or otherwise failed to comply with the requirements of the Administrative Procedure Act.[2]